ELI5: Bitcoin price volatility while the price goes up?
I understand volatility is an issue, and many are saying stability in the price would be a benefit to btc. How would this be achieved as the market cap goes up and the price of btc rises say to 5,000 or more?
So I have been looking into purchasing a couple of BTC for a while and have found it's not easy in the UK. However I've jumped through a few hoops and now have a bittylicious account set up which is verified enough for me to make some small purchases. Only trouble is that while the MtGox exchange tells me a BTC is $300 (£200), bittylicious and bitstamp are talking prices of $600+ (£400). So are the charges for getting into BTC that much in the UK that I have to pay double? Or am I missing something? It would seem that this disparity would make it rather easy for US traders to just buy in the US exchanges then sell to UK for an easy 100% profit.
ELI5: What’s causing the recent Bitcoin price drop?
Thinking of investing in crypto but I want to understand what’s causing the price dip the past days and if its still a good idea to buy bitcoin given the recent trend. Thanks! Tried posting this in explainlikeimfive but bitcoin related posts are blocked there.
ELI5 why if bitcoin is a globally connected currency, why different markets have drastically different buying and selling prices(ie Zimbabwe/europe)?
Why aren't we all the same? (EDIT) why are is there more than 1 market? is it because geogpraphicaly we aren't in their internet reach to get on their exchanges?/ is it that local trading(which obviously we can't do from here) drives up their price for the region? ALSO if I buy or sell for no fees on gdax(limit buying) does it lock in the price as it waits to be processed like coinbase?
Could someone please ELI5 why that lately, when Bitcoin pumps up, the price of ZIL/BTC drops down, and when BTC pumps down, the price of ZIL/BTC rises up?
Since most coins actually follow the price of BTC, this seems completely backwards to me. Example: Earlier tonight, Bitcoin pumped, and in reaction, Zilliqa did this. Can anyone tell me why? (It seems like it's trying to maintain exactly the same $USD price, no matter what Bitcoin does.)
Can someone ELI5 how futures can affect the price of bitcoin if they don't require any bitcoin to be bought or sold?
I'm sorry if this has already been discussed, and I know I'm probably missing something, but it just doesn't make sense to me. How do futures contracts actually affect the price of bitcoin? I thought they didn't require bitcoin to be bought or sold - does bitcoin have to eventually be bought and exchanged to fill the contracts? How do people short bitcoin through contracts if they presumably don't own any? Wouldn't they need to own bitcoin to create a sell wall on actual exchanges? I appreciate anyone helping me understand this, and I apologize if this has been asked before but I couldn't find any threads with an explanation. Thanks!
[ELI5] Why is the price going up if there are 'huge' problems with Bitcoin?
Hello everyone, I'm a beginner when it comes to crypto currencies and I would really appreciate if someone could explain this to me because I'm puzzled. I have been following the price for the last two weeks and the 'OMG huge issues with the Block chain size aka hard-fork' thing. Can someone ELI5 why is the price going up if there are 'huge' problems with Bitcoin? Are those 'huge' problems just noise created by someone to take advantage of the market and manipulate it in a certain way and not actually a real problem? Thanks in advance!
I need an ELI5 about the relationship between Bitcoin price and Japanese yen
I'm not very savvy when it comes to foreign exchange so I was wondering if someone could give me an explanation that even I can understand. So, as you might know, the Japanese yen's value has shot up this week. As I understand it, this is because when the economy is jittery, people like to buy our currency because I guess they see it as being quite stable (not to sure why). Why is it that I can buy more USD, EUR, and almost every other currency for the same amount of JPY today, but this advantage hasn't been reflected when it comes to JPY and BTC? Is it simply because people aren't selling their bitcoins for the JPY on Japanese exchanges? I'm trying to wrap my head around this but I'm stumped. Sorry mods if this question is not relevant to this sub.
ELI5: how do I determine the prices of specific bitcoin futures, and how would I buy them?
Not an accredited investor. I see bitcoin futures are traded on the chicago mercantile exchange. I am interested in placing a bet that bitcoin falls much lower. But, whether I do so depends on the price. I have found this page of bitcoin future quotes from the CME, but I don't understand it: http://www.cmegroup.com/trading/equity-index/us-index/bitcoin.html As an example, can I use that page to figure out the price of an option betting that bitcoin will be lower than $3000 USD on March 27th? That's not necessarily the bet I'd make, I just want to find out how to find prices for those. The idea is I'd put maybe $1000-$3000 in if it had a large enough potential payoff. So, don't worry, I'm not going to lose my shirt. My issue is I just don't understand the howto of making such a bet. There may be an easier way to make such a bet, other than options. If so, let me know. But, I'd prefer one where my worse case is merely losing the $3000 - I don't want something where I'd owe more money if I'm wrong.
The history behind ELI5. The idea behind ELI5 comes from the sentiment that a five-year-old generally doesn’t have background knowledge, or is naive towards pretty much anything and everything (no offence to all of the five-year-olds reading this). We’re all five years old when it comes to topics we know nothing about. ELI5 Bitcoin Mining: Mining Bitcoin is one of the fastest growing industries and the processing power that comes from mining hardware devices verifies every transaction and secures the Bitcoin Network. There is literally billions of dollars being invested in the Bitcoin mining industry, and its for good reason: It’s a way of turning energy into value, and getting involved at the base layer ... 4 Answers. It is possible to damage your computer by mining in the following ways: the computer will degrade more, as it is used more (you will have to replace it sooner than normally) the computer will overheat and some components will fail because of that (if for example, the computer is dusty. Eli5 How does bitcoin's price go up or down? If every sale of bitcoin for fiat is someone buying bitcoin for fiat, how does the price change? For example, if lots of people suddenly get scared and sell, doesn't that mean that someone else is just buying those bitcoins for sale? 20 comments. share. It started with Bitcoin: the first mainstream digital currency that exploded into popularity in 2013, when the price of a single Bitcoin (BTC) went from $10 to over $1000 at its peak. Over the next year, BTC’s steady decline back, losing 75% of its value to $250, was equally as tumultuous. Bitcoin ELI5
Bitcoin Daily View 01-26-2020 BTC Riding The Daily 314 ...
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